To start out the difference in a QRP and an IRA:
- Contribution amount in an IRA you can contribute 5,000 dollars, and in a QRP maximum is 49,000 dollars
- You can borrow against your QRP
- You can not borrow against your IRA
- You can Finance real estate in your QRP
- You can not finance real estate in your IRA
- Asset protection in QRP can not be attacked by anything like
- IRS
- Creditors
- Bankruptcy
- Law Suites
- Spouses
- and so on….
- On the other hand an IRS can be pierced by everything
- You can purchase life insurance with a QRP not with an IRA
- You are your own admin and trustee with no fees
- No annual maintenance fees
- Directly in control of all your plan assets
- Catchup contribution is 5,55 dollars and in an IRA it is 1,000 dollars
- You can buy a house and rent it that too is allowed
- You can buy a house and sell it
- You can make a lot of money with a QRP
In order to have a Qualified retirement Program "QRP" you can have a DBA, LLC or whatever you want to have.
Please visit the web site http://www.QRPRetirementPlan.com it is all there.
Thank you until next time,
Calvin
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